USA OUTLOOK FEBRUARY 05 TO 09, 2024

USA OUTLOOK WEEKLY NEWSLETTER FEBRUARY 05 TO 09 0001111NOVEMBER 00

www.amchamguate.com

FEBRUARY 05, 2024

FEBRUARY 06, 2024

US power use to reach record highs in 2024 and 2025 -EIA

U.S. power consumption will rise to record highs in 2024 and 2025, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday.

EIA projected power demand will rise to 4,112 billion kilowatt-hours (kWh) in 2024 and 4,123 billion kWh in 2025.

That compares with 3,994 billion kWh in 2023 and a record 4,070 billion kWh in 2022.

Photo REUTERS/Cristina Chiquin/File Photo Purchase Licensing Rights

'Dreamers' left out in the cold by US Senate border bill A bipartisan border security bill headed to a U.S. Senate vote this week is likely to dash hopes for a quick, clear path to citizenship for hundreds of thousands of people brought into the U.S. illegally as children, as Congress takes a harder line on immigration.

As homes and businesses use more electricity instead of fossil fuels for heat and transportation, EIA forecast 2024 power sales would rise to 1,530 billion kWh for residential consumers, 1,396 billion kWh for commercial customers and 1,035 billion kWh for industrial customers.

That compares with all-time highs of 1,509 billion kWh for residential consumers in 2022, 1,391 billion kWh in 2022 for commercial customers and 1,064 billion kWh in 2000 for industrial customers.

This group, known as "Dreamers," had been a top priority for Democrats in immigration policy talks for more than a decade.

But as Republicans made new border restrictions a condition of aid for U.S. allies Ukraine and Israel sought by Democratic President Joe Biden, the Dreamers question was left off the table.

Dick Durbin, the No. 2 Senate Democrat, said that at the onset of the just-concluded talks Republicans rejected his plea to include the Dreamers.

"There are members on the other side that have the position of not one single immigrant under any circumstances," Durbin said in an interview.

Souce: https://www.reuters.com/world/us/dreamers-left-out-cold-by-us-senate-border-bill2024-02-05/

Souce: https://www.reuters.com/world/us/us-power-use-reach-record-highs-2024-2025eia-2024-02-06/

FEBRUARY 07, 2024

FEBRUARY 08, 2024

US weekly jobless claims stay low despite high-profile layoff announcements

The number of Americans filing new claims for unemployment benefits fell slightly more than expected last week, pointing to underlying labor market strength despite a recent surge in announced layoffs, mostly in the technology industry.

Photo: REUTERS/Elizabeth Frantz/File Photo Purchase Licensing Rights

US FAA wants air carriers to boost aviation info sharing

The report from the Labor Department on Thursday also showed unemployment rolls shrinking a bit in late January after swelling to a two-month high earlier.

Labor market resilience is underpinning the economy, and the latest claims readings suggested that the strong economic growth momentum from the fourth quarter continued in early 2024, potentially delaying an anticipated interest rate cut this year.

The head of the U.S. Federal Aviation Administration (FAA) met with airline CEOs on Wednesday and asked carriers to share more information to boost safety and identify potential problems.

FAA Administrator Mike Whitaker convened a meeting with airline CEOs, the agency said, to "ensure the aviation industry continues expanding safety management systems and finding ways to share information transparently to minimize risk and advance safety."

The meeting came after the FAA last month grounded 171 Boeing (BA.N), opens new tab MAX 9 airplanes after a mid-air cabin panel blowout on a new Alaska Airlines plane.

The National Transportation Safety Board said Tuesday preliminary evidence suggests the plane was missing four key bolts when it left the Boeing factory. Whitaker told lawmakers Tuesday he is boosting oversight of Boeing.

Photo: REUTERS/Andrew Kelly/File Photo Purchase Licensing Rights Souce: https://www.reuters.com/business/aerospace-defense/faa-wants-air-carriers-boostaviation-information-sharing-2024-02-07/

Souce: https://www.reuters.com/markets/us/us-weekly-jobless-claims-fall-more-thanexpected-last-week-2024-02-08/

FEBRUARY 09, 2024

Photo: REUTERS/Marco Bello Purchase Licensing Rights

US driving hits new record in 2023, topping pre-COVID levels

Travel on U.S. roads in 2023 rose 2.1% to 3.263 trillion miles setting a new yearly record and topping preCOVID 19 levels for the first time, the Transportation Department said Thursday.

Road travel overall last year was up 67.5 billion miles and up by 2.2% in December, according to preliminary data. In 2019, U.S. motorists logged 3.261 trillion miles for the year. U.S. driving sharply declined after COVID19 lockdowns were imposed in early 2020 as many people worked from home.

The increase in driving comes as more Americans are returning to offices for work as businesses and federal agencies push workers to return.

Driving was also boosted by lower retail gasoline prices in 2023. U.S. retail gasoline prices last year averaged $0.43 per gallon less than in 2022, according to the U.S. Energy Department.

The U.S. retail price for regular-grade gasoline averaged $3.52 per gallon in last year as a result of lower crude oil prices in 2023 compared with 2022.

Souce: https://www.reuters.com/world/us/us-driving-hits-new-record-2023-topping-precovid-levels-2024-02-08/